Golden Wonder set for sell-off

Sunday 26 May 2002 23:00 BST

CRISPS and snacks group Golden Wonder is to be sold to rival crispmaker The Snack Factory. Longolf, which owns Snack Factory, is buying the business for an undisclosed sum from majority shareholder Bridgepoint Capital.

Bridgepoint, the private equity group, has been a large shareholder in Golden Wonder since the it was bought in a £156.5m secondary buyout two years ago. Bridgepoint is thought to be more than doubling its money through the sell-off, industry sources say.

Golden Wonder is based in Market Harborough in Leicestershire, and operates from two factories - Corby in Northamptonshire and Scunthorpe - employing 1,400. It makes Golden Wonder crisps, as well as Nik Naks and Wheat Crunchies. Its Wotsits brand is being sold in a separate deal to rival Walkers.

The deal is subject to review by the Office of Fair Trading, which is expected to take around six weeks.